Weekly Newsletter - April 16, 2025
Latest additions to CAalley:
News Update:
Exposure Drafts:
Useful Forms:
Income Tax Return Forms for AY 2024-25
CA's Referencer:
From the ICAI:
International Content:
Legal Updates:
News Update:
EPFO can't deny claims for pension on basis of delayed contribution: HC
Justice BR Gavai to take oath as 52nd Chief Justice of India on May 14
Financial Intelligence Unit imposes ₹37 lakh penalty on Union Bank of India
IndusInd Bank external audit reveals Rs 1,979 crore derivative discrepancies
US slaps 245% retaliatory tariffs on Chinese goods as trade war intensifies
Sebi seeks to throw open out-of-bounds business areas for mutual funds
Sebi bans Gensol Engg, promoters from securities mkt in fund diversion case
RBI asks banks to pay 8% interest for delay in central govt pension payment
India leads global market recovery, first in world to rebound from Trump tariff shock
Don’t be surprised if you get lesser income tax refund this year
Not activating countercyclical capital buffer, says RBI
GST On Apartment Maintenance Is Not A New Levy, Clarify Tax Officials
Major relief for homeowners: ITAT rules redeveloped flats not taxable as 'other income'
Sebi resolves over 4,000 complaints through SCORES in March
Taxman opens the parcel: GST sleuths probe restaurant packaging charges
Document drama galore: Top reasons PF claims get rejected-and how to fix it
Banks seek power to freeze accounts in case of illicit transactions
Cap gains of NRIs on mutual fund units can’t be taxed in India: ITAT
'Zero-for-zero' tariff under proposed India-US BTA unlikely: Report
Tariffs can boost manufacturing, but are India's factories ready?
Trump exempts China-made smartphones, chips from reciprocal tariff plan
Kerala HC strikes down GST on services by clubs to members, calls it unconstitutional
PwC wraps up IndusInd Bank’s accounting review; forensic probe by Grant Thornton underway
RBI to mandate application submissions via Pravaah portal from May 1
RBI proposes new route for offloading bad loans
Sebi bats for ‘optimal regulation,’ likely to revamp norms
Sebi warns against securities frauds using social media platforms
Sebi introduces standardized application format for Specialized Investment Funds
Income Tax Returns FY25: Record-setting 9.19 crore ITRs filed till March 31
Higher salary but lower mental peace? CA reveals why many high earners still struggle
SC says insurers can't deny claim for impossible conditions: What it means
Taxpayer wins after I-T dept rejects Sec 54 LTCG claim
No more international UPI transactions via QR share & pay, says NPCI
India, US agree on terms of reference for first phase of trade deal
China's 125% tariff counter to Trump's 145% levy, vows to 'fight till end'
Rs 10 lakh minimum investment is per PAN, not per SIF scheme: Sebi
EPFO allows employers to make one-time payment of dues via demand draft
Financial inclusion is not a licence to exploit: RBI Deputy Governor
RBI asks IndusInd Bank board to fix accountability over accounting lapses that shook investor trust
India seeks quick trade deal with US after Donald Trump pauses tariffs
CBI arrests CGST inspector, middleman in bribery case
Income tax dispute: Vivad Se Vishwas Scheme 2024 application deadline notified by Govt
Sebi eases FPIs' disclosure norms; doubles assets threshold to Rs 50,000 cr
Sebi sets up high-level committee to review conflict of interest provisions
[RBI] The pilots for MuleHunter.AI have been successful, says Swaminathan
Trump announces 90-day pause on tariffs, raises China tariffs to 125%
PwC exits more than a dozen countries to avoid scandals
[UK] EY fined £500,000 for breaching audit rules in second penalty within a week
IAASB revises going concern standard
Auditors, management prepare for AI impact on financial data
EY fined almost £5m for Thomas Cook auditing failures
Continuous auditing: A new era or a challenge to tradition?
Big Four lose share of SEC audits
Exposure Drafts:
Standards on Auditing for Audits of Limited Liability Partnerships
[Last date for Comments: May 1, 2025]]
RBI issues 4 draft Directions on the regulatory measures announced in SDRP
RBI (Securitisation of Stressed Assets) Directions, 2025
RBI (Co-Lending Arrangements) Directions, 2025
RBI (Lending Against Gold Collateral) Directions, 2025
RBI (Non-Fund Based Credit Facilities) Directions, 2025
[Last date for Comments: May 12, 2025]
Investor Charter for Registrars to an Issue and Share Transfer Agents (RTAs)
[Last date for Comments: May 2, 2025]
Investor Charter for Research Analysts
[Last date for Comments: May 2, 2025]
Investor Charter for Investment Advisers
[Last date for Comments: May 2, 2025]
Useful Forms:
Income Tax Return Forms for AY 2024-25:
ITR B - ITR for Block Assessment
CA's Referencer:
NFRA Auditor-Audit Committee Interaction Series 3 -
Related Parties
[Published on March 28, 2025]
From the ICAI:
Study on Compliance of Financial Reporting Requirements (Ind AS Framework) - Volume-III
(Compiled from the records of Financial Reporting Review Board)
[Published in January, 2025]
International Content:
Guidance on the Going Concern Basis of Accounting and Related Reporting
(including Solvency and Liquidity Risks)
[Febraury 2025]
Explainer: Guidance on the Going Concern Basis of Accounting and Related Reporting
Legal Updates:
Advisory on reporting values in Table 3.2 of GSTR-3B
Advisory on Table-12 of GSTR-1 or GSTR-1A
IBBI (Insolvency Professionals) Regulations, 2016 (Amended upto 03-04-2025)
Reorganisation of Districts in the State of Rajasthan – Review of Lead Bank Responsibility
Clarification on Regulatory framework for Specialized Investment Funds (‘SIF’)
Framework for Ship Leasing (Updated as on April 07, 2025)
Operationalisation of DGFT 'Global Tariff and Trade' Helpdesk [Trade Notice No.1]
Setting up of office for operationalising Interim Boards for Settlement [Order No.03/2025]
